Chris Paul, Larry Fitzgerald Investing in a $ 1 Billion Cricket Team
Chris Paul, Larry Fitzgerald and Kelvin Beachum are investing in the Rajasthan Royals, a cricket team in the Indian Premier League.
As a minority investors of the franchise, which is worth more than $ 1 billion, the trio invested through Emerging Media Ventures, which owns the Royals and is by venture capitalist Manoj Badale.
The newest investment into the league’s ownership comes after a New York-based private investment firm, RedBird Capital Partners, bought a 15% stake in the Royals for nearly $ 37.5 million in June 2020. That addition of the firm bumped Badale’s group’s stake in the club. from 51% to 65%.
The trio of NBA and NFL stars are among the first American athletes to contribute to the world’s most popular cricket league.
“I am excited to have become one of the first US athletes to see the value and scope for growth in IPL,” said Paul in the team’s release. “I see myself contributing world-class experience through this strategic investment.”
Scroll to Continue
Fitzgerald echoed Paul’s excitement. “India has a passionate sports culture and I’m excited to invest in one of the most sought-after teams in the country,” Fitzgerald said.
Paul is no stranger to having an impact beyond the basketball court. The 12-time All-Star created an eight episode docuseries, Why Not Usand partnered with Harvard Business School to bring an entertainment, media and sports program to North Carolina A&T and more HBCUs in the future.
Rest assured that Paul, Fitzgerald and Beachum will likely not be the last group of athletes to invest in a cricket team.
More Cricket Coverage:
.